Multi-Family Townhome-Style
For Sale
$519,000
681 Putnam Pike, Smithfield, RI 02828
Three-floor duplex with a two-bedroom unit on the first floor and townhouse-style living on the second and third floors.
Property Size2,496 SF
Price / SF$207.93
Days on Market94
Property Features for 681 Putnam Pike
General Information
Standard status
Active
Size
2,496 SF
Property subtype
Multi-Family
Building Details
Year Built
1850
Listing Agency:
RE/MAX ONE
Listed By:
Keith Antaya · License #1001259
(401) 943-6111
Source:
Alpernandmesenbourg
Added: Jul 19
Changed: Oct 15
Last Checked: Oct 7 at 2:37PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX ONE
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Investment Insights
Based on property information with market context.
This multi-family property is configured as a duplex with a townhouse-style feel. The primary residence spans the second and third floors, providing a private, elevated layout. The first floor features a well-maintained two-bedroom, one-bath unit.
The property is set on an oversized lot and includes two brand-new combination boilers. This update supports reliable heat and hot water service for the near term.
Overall, the building offers two separate living levels within one structure, combining a self-contained first-floor unit with larger, multi-floor living above.
The property is set on an oversized lot and includes two brand-new combination boilers. This update supports reliable heat and hot water service for the near term.
Overall, the building offers two separate living levels within one structure, combining a self-contained first-floor unit with larger, multi-floor living above.
Key Highlights
- Year built 1850
- Three‑floor duplex with a two‑bedroom, one‑bath unit on the first floor
- Second and third floors provide townhouse‑style living as the primary residence
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,560
Cap Rate
8.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$831,200
$831.2K
Cap Rate 7%
$593,714
$593.7K
Cap Rate 9%
$461,778
$461.8K
Market Conditions
NOI Build-Up for 2,496 SF
Gross rent
$63.5K $25.44/SF
− Vacancy
−$4.1K −$1.65/SF
EGI
$59.4K $23.79/SF
− OpEx
−$17.8K −$7.14/SF
NOI
$41.6K $16.65/SF
Area
Providence County, RI
Vacancy
6.50%
Lease Rate
$25.44 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$831,200
Cap Rate 7%
$593,714
Cap Rate 9%
$461,778
Alternative Uses
Best Use
Multifamily LT 5
$593.7K
$519.5K – $692.7K
NOI $41,560 @ 7.0% cap · market cap 8.01%
Second Best
Apartment 5plus
$471.2K
$412.3K – $549.7K
NOI $32,983 @ 7.0% cap · market cap 6.36%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Location Intelligence
Trade Area within ½ mile
390
Businesses Nearby
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Business Placement
Demographics for 02828, RI
7,469
Population
3,012
Households
2.5
Avg Household Size
50
Median Age
41%
College-Educated
95%
High-School Grad
4.3 sq mi
ZIP Area
1,737
Density / Sq Mi
$94,746
Median Household Income
$61,278
Median Earnings
$999
Median Rent
$400,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Three-floor duplex with a two-bedroom unit on the first floor and townhouse-style living on the second and third floors.
Where is this duplex located?
The property is located at 681 Putnam Pike Smithfield, RI.
What is the asking price?
The asking price for this property is $519,000.
What are key features of this property?
This property features: Year built 1850; Three‑floor duplex with a two‑bedroom, one‑bath unit on the first floor; Second and third floors provide townhouse‑style living as the primary residence
